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News

Staatsolie looking at options to secure over US$1.8 billion for Suriname’s first deepwater project

Shikema Dey -
Staatsolie, Suriname’s state oil firm, has announced plans to issue bonds in 2025 as part of its strategy to finance participation in the first offshore oil production field in Block 58. The company is entitled to a maximum 20%...
News

‘Arrogance of the first order’ if critics from US, Norway tell Guyana to stop oil production – ex Norway minister

OilNOW -
Former Norwegian Environment Minister Erik Solheim has condemned calls for Guyana to stop producing oil from persons in veteran oil producing countries. Solheim said that people from such nations, including the United States, should not dictate to Guyana or...
News

Halliburton wants to help Guyana bring Texas-stored petroleum data in-country

OilNOW -
Halliburton has submitted a US$1.88 million bid to the National Procurement and Tender Administration Board (NPTAB) of Guyana, aiming to secure a contract for data management services for the country's oil and gas exploration and production operations. The company...
News

Biden Administration secures over 50 million barrels for Strategic Petroleum Reserve

OilNOW -
The U.S. Department of Energy (DOE) announced the purchase of more than 3.4 million barrels of crude oil for the Strategic Petroleum Reserve (SPR) following contracts awarded for delivery to the Bryan Mound site from January through March 2025.  This...
News

US$8.9 million pumped into training initiatives for Guyana’s oil sector 

OilNOW -
Training initiatives for Guyana’s oil and gas sector have seen an investment of US$8.6 million, according to the recently released Mid-Year Report from the Ministry of Finance.  Labor scarcity in Guyana’s market is a known issue, especially in the oil...
News

Exxon, co-venturers have recovered more than US$25 billion of their Guyana investments

OilNOW -
Cost recovery continues to be accelerated for Stabroek Block operator ExxonMobil and co-venturers Hess and CNOOC, surpassing US$25 billion at the halfway point of 2024. According to Mid-Year data from the Guyana government, oil exports from the block have...
News

Exxon seeking environmental and socioeconomic consultants for support activities in Guyana

OilNOW -
ExxonMobil Guyana Limited is seeking qualified consultants to support its ongoing environmental and socioeconomic assessments through a new services agreement. The consultants will be tasked with monitoring, assessing, and managing environmental and social risks related to the company's offshore...
Exploration

Exxon’s gas wells take spotlight in global upstream activity for August – Rystad Energy

OilNOW -
ExxonMobil's gas exploration efforts in August were a key focus in oil and gas upstream activities, according to a recent report from Rystad Energy. The U.S. supermajor achieved success with the completion of its non-operated Sloanea-2 appraisal well on...
News

Free university education must prioritize quality, says Vice Chancellor

OilNOW -
Professor Paloma Mohamed, Vice Chancellor of the University of Guyana, supports the government’s plan to provide free university education but stresses that quality must not be compromised. As Guyana experiences rapid economic growth driven by oil and gas, she...
News

Leading OPEC+ members agree to postpone proposed increase in oil production

OilNOW -
The OPEC+ countries, which previously announced additional voluntary cuts in April and November 2023, including Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman, held a virtual meeting on September 5, during which the eight...
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NewsOilNOW -

Americas oil outlook revised down, but Guyana’s offshore boom remains a bright spot 

Production across the Americas is forecast to reach 63 million barrels of oil equivalent per day (mmboe/d) by 2031,...

OilNOW is a Resource Center founded and owned by Guyanese. OilNOW is an apolitical, non-partisan, privately owned agency that strives to ensure the highest degree of accuracy and balance.

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